Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading rose around 0.43% on 15 January 2026. 

Macro Update: In January 2026, the UK economy shows resilience as November’s GDP grew a better-than-expected 0.3%. While the Bank of England recently cut interest rates to 3.75%, inflation remains above target at 3.2%. However, the labor market is softening, with unemployment rising to 5.1%. Experts anticipate further rate cuts this year as inflationary pressures continue to gradually ease. 

Top Market Movers: Among top gainers on FTSE 100 index, Schroders PLC (LSE: SDR) witnessed a rise of 6.52% followed by 3I Group PLC (LSE: III) which gained around 4.91%. 

Commodity Update: The yen held onto overnight gains but remained pinned near 18-month lows, as caution over possible intervention persisted amid Japan’s election outlook and expectations of added fiscal stimulus. In commodities, gold slipped 0.85% to USD 4,596.70, silver fell 3.75% to USD 88.10, and copper eased 1.17% to USD 13,069.00. Brent crude dropped 2.40% to USD 64.94, retreating from multi-month highs after U.S. President Donald Trump eased concerns over potential U.S. military action against Iran. 

Our Stance: The UK economy faces persistent structural headwinds, with subdued growth and a softening labour market despite easing inflation. The Bank of England's recent interest rate cut underscores these underlying vulnerabilities. A cautious investment approach is warranted, with close attention to policy shifts and the twin risks of rising public debt and a more pronounced economic contraction.  

FTSE 100: The FTSE 100 edged up 4.29 points to 10,188.64, continuing to trade comfortably above the key support zone near 9,800, which helps maintain a stable broader structure. The 21-day and 50-day Simple Moving Averages remain below current levels, offering underlying support and allowing scope for near-term consolidation. Momentum remains steady, reflected in an improving RSI. Immediate support is seen around 8,950, while upside resistance is placed near 10,250 and 10,400. 

 

Source: Charts by REFENITIVD 

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